Whereas in traditional real estate properties might be on the market for 30 days, he said that in many cases leases have been closed within 24 hours to 48 hours.
How do professional photographers price their photos?
It depends on a variety of factors, and it also depends what type of photography you are pricing for… is it commercial usage or personal usage (ie. portraits or weddings.)
If you are looking for information on pricing for commercial photography. I have a video about the difference between usage rate and a photographers day rate, which will really give you a basic understanding of where to start with structuring your pricing. I also have a free estimating template that you might find valuable.
Here is the breakdown between the difference between usage rats and a photographer day rate or creative fee:
USAGE RIGHTS are fees associated with a clients usage on a per image basis for a designated period of time. Usually this would appear on the estimate as $____ per image and the time-frame would be outlined in the terms… ie. for a 1 year term. The price per image is probably going to vary on a job by job basis as the terms of the shoot are going to vary job to job and it also very much depends on the client. A small mom and pop price per image is going to look very different than a large brand with a huge following. You would also want to outline what the per image fees to renew for another term would be, so that they know that if they want to use the images after the term is up, they would have to pay X amount.
CREATIVE FEES are the fees associated with your time and creative talent for the job. This is usually based on a per day basis and is roughly the same from job to job… although again, this might look different if you are quoting on a small or large job.
Now we know the terms… but when do you use each of them? Some people will separate them into two line items, and others will put them together as one fee. In my opinion, they should separated as they serve very different purposes. Your creative fee is essentially the same as a line item for a crew member. You wouldn’t not pay your crew, so why would you not pay yourself. The photography usage fee on the other hand is for using the images themselves. If you wrap the creative and the usage into one lump sum, it doesn’t educate the client on the differences of these two line items and it doesn’t show the value they are getting.
If you are just starting out, this can seem like a lot, but if you set the standard early on, your clients will get used to it and when you raise your photography prices, it will be clearer. It is also helpful to see the image usage numbers, so the client knows what they are getting, and what they will need to pay to renew.
I hope this was useful for you.